Iluka to invest $60m to expand operations

27Jan

January 27, 2017

awoko.org 24 Jan, 2017

Iluka Resources plans to invest $60 million over the next two years to improve on the operations of Sierra Rutile. The planned investment is to continue with feasibility studies aimed at expanding the mine to significantly increase rutile output. The expansion operation will include increasing production from 250 TPH to 500 TPH for the Lanti dry mining. Also it includes to increase Gangama dry mining output from 250 TPH to 500 TPH and to develop the Sembehun dry mining project to produce 1,000 TPH. The acquisition of Sierra Rutile discussed as a merger between Iluka and Sierra Rutile has been finalized on 7th December, 2016 and the total transaction cost is A$393 million (Australian Dollar).